Predictive Analytics is a Necessity for Businesses to Sustain Competitive Advantage - Business Strategy

Internal Code: MAS6959

Business Strategy:

As the application of data analytics expands, finance managers rely heavily on data based or backed decisions. Bi software revenues amounted to 18.3 billion and according to Gartner Inc is projected to grow to $22.8 billion by the end of 2020. Predictive analytics is a necessity for businesses to sustain competitive advantage. The application of predictive analytics is to help to manage data and provide insightful results. These insightful results can help the data owner to make statistical based decisions and use that data to support the decisions rather than take decisions simply based on intuition. Additionally, predictive modeling is important for competing as data insights will help companies secure a powerful and unique competitive stronghold which can help companies to grow and enforce business integrity and also slash costs.